Persimmon Says Full-Year Revenue Gained 13% After Raising Prices

Persimmon Plc, the U.K.’s second-biggest homebuilder by market value, said revenue increased 13 percent last year as it raised prices and delivered more completed properties.

Sales climbed to 2.9 billion pounds ($4.2 billion) from 2.6 billion pounds a year earlier as the company delivered 8 percent more homes to buyers, York, England-based Persimmon said in a statement on Thursday.

U.K. homebuilders have benefited from rising prices across the country and government initiatives to get more land approved for development. State efforts to make mortgages more affordable have also helped boost sales of new homes.

Persimmon’s average selling price rose 4.5 percent to about 199,100 pounds, the company said. Forward sales as of Dec. 31 totaled 1.1 billion pounds, a 13 percent increase from a year earlier. The homebuilder purchased about 20,500 plots of land on 123 sites last year.

Persimmon also announced that Nigel Greenaway, chief executive of the company’s south division, will retire after almost 30 years at the company.

Before it's here, it's on the Bloomberg Terminal.